Several subscribers have reported using my 1257.80 correction target to get long near the low, so I’ve established a tracking position for your further guidance. Assuming half of the position was covered at 1270.00, we hold two contracts with a profit-adjusted cost basis of 1246.10 from an original position of four contracts. To manage risk dynamically, I’ll now suggest using an impulse leg stop-loss based on the hourly chart. This implies that the futures would have to breach the two lows shown, and to do so without a visually significant correction once low #1 is breached, to stop us out.  If the stop is hit, brace for more downside to at least 1249.20. You can bottom-fish there with the usual microtight stop-loss, but don’t expect to hit a home run on the bounce. ______ UPDATE (2:01 p.m. EDT): Gold has relapsed to a so-far low of 1252.10 — not exactly a healthy sign. We exited on the stop at 1257.90 for a theoretical gain of $1,180 per contract.  The 1249.20 pivot can still be bottom-fished nonetheless.